The Birth and Rise of Talos Energy
Talos Energy is an exploration and production company, and it operates in the United States Gulf of Mexico. Their main focus is to explore, acquire, and the development of assets in deep and shallow waters near the infrastructure. Talos Energy Incorporated together with Stone Energy merged to form on single entity which is known as Talos Energy. In the year 2016 Stone Energy declared itself bankrupt and this was the beginning of this relationship. The relationship was beneficial to both companies because for one, Stone was already listed as a public company and it had over 100 barrels of oil. On the other hand Talos had enough money needed to settle Stones debts and could benefit from getting listed in New York Stock Exchange using the ticket Talos for free therefore as result pay nothing in order to get themselves listed.
It is known that Talos energy has been involved in similar situations of mergers before, for example in 2005 when hurricane Rita struck, several drilling infrastructure of Cabot oil Talos were able to turn again Cabot to a profit making organization.
Currently Talos Energy now comfortably makes almost 50000 barrels per day and also owns over one million acres of drilling space. The new Talos Energy has $150,000 in liquid form and almost $500,000 cash equivalent. The future looks well for Talos Energy in terms of profits.
Talos energy is an ever growing entity and offers career opportunities in exploration, production among other several disciplines. According to employees surveys Talos Energy is a good place to work and it was ranked the Top Workplace according to the Houston Chronicle Top Workplaces for the period from 2013-2017.
Talos was 100% successful on all the 14 blocks which it bid in the Gulf of Mexico. The blocks are estimated to cover around 75000 acres. Talos is expected to pay over $5 million for all the blocks leased combined. Two of the leases in Deepwater consist of seven years lease term and all the remaining others have a 5 years term of lease. The rates for royalties for the Deepwater leased blocks are at 18.75% and 12.50% for the shallow water leases. Talos Energy has identified eight prospects in these blocks and an addition of two or more is expected.
Learn More: www.crunchbase.com/organization/talos-energy